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Market Value

MARKET VALUE

The highest price a willing buyer would pay and a willing seller would accept, both being fully informed, and the property being exposed for sale for a reasonable period of time. The market value may be different from the price a property can actually be sold for at a given time (market price). The market value of an article or piece of property is the price that it might be expected to bring if offered for sale in a fair market; not the price that might be obtained on a sale at public auction or a sale forced by the necessities of the owner, but such a price as would be fixed by negotiation and mutual agreement, after ample time to find a purchaser, as between a vendor who is willing (but not compelled) to sell and a purchaser who desires to buy but is not compelled to take the particular article or piece of property.

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"Market Value." West's Encyclopedia of American Law. . Encyclopedia.com. 24 Aug. 2017 <http://www.encyclopedia.com>.

"Market Value." West's Encyclopedia of American Law. . Encyclopedia.com. (August 24, 2017). http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/market-value

"Market Value." West's Encyclopedia of American Law. . Retrieved August 24, 2017 from Encyclopedia.com: http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/market-value

market value

mar·ket val·ue • n. the amount for which something can be sold on a given market.Often contrasted with book value.

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"market value." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. 24 Aug. 2017 <http://www.encyclopedia.com>.

"market value." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (August 24, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/market-value

"market value." The Oxford Pocket Dictionary of Current English. . Retrieved August 24, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/market-value